Trustees’ Annual Report for the period
From: 01/06/2023 To: 31/05/2024
Charity name: Limago Foundation
Charity registration number: 1190401
Objectives and Activities
The Charities objectives continue to be the provision of grants to institutions that help with the advancements of health and wellbeing for those children and young people with disabilities.
Achievements and Performance
During the year the Charity has set in place a strategy for its fundraising activities over the next year.
In addition, there has been a significant amount of attention on building relationships within the Charity and the wider community which will benefit from the Charity’s ongoing activities.
The Trustees continue to be engaged with proactive discussions about the benefit the Charity will provide to some of the identified future beneficiaries.
Financial Review
The Charity’s accounts at the end of the period reflected the receipt of art donated in a value of £16,055 which was donated to Centerpoint within the same period. The art donated valued at £150,000 in the year ended 31[st] May 2022 is still held as an asset by the Charity This art is held as unrestricted funds for use by the Trustees as they see fit whether it would be outright donation or its sale with the proceeds being used for either ongoing run of the Charity or for grant giving.
A further donation of £1,000 was also made in the period to Animals Asia Foundation.
The Trustees envisage that in the forthcoming period the Charity will be in a position to receive third party donations to further continue its charitable endeavours.
Structure, Governance and Management
The Charity is a charitable incorporated organisation having been established on 14 July 2020
The objects of the CIO are:
-
(1) To prevent or relieve poverty, financial hardship and suffering.
-
(2) To preserve life and promote health and welfare including without limitation mantal health
-
(3) To advance development and education; In each case, of children up to and including the age of 11 years, anywhere in the world, by engaging in fundraising activities and making grants to organisations and supplying goods to further those charitable purposes.
The Trustees at the year-end were:
Catherine Linnemann Lady Charlotte Northbrook
Declarations
The trustees declare that they have approved the trustees’ report above.
Signed on behalf of the charity’s trustees
Signature(s) Full name(s) Catherine Linnemann Position (eg Secretary, Chair Chair, etc) Date 18/06/2024
| Charity Name:Limago Foundation | Charity Name:Limago Foundation | Charity Name:Limago Foundation | Charity No 1190401 |
||
|---|---|---|---|---|---|
| Annual accounts for theperiod | |||||
| Period start date | 01/06/2023 | To | Period end date |
31/05/2024 |
Section A Statement of financial activities
| Recommended categories by activity Guidance Notes Incoming resources (Note 3) Income and endowments from: Donations and legacies S01 Charitable activities S02 Other trading activities S03 Investments S04 Separate material item of income S05 Other S06 S07 Resources expended (Note 6) Expenditure on: Raising funds S08 Charitable activities S09 Separate material item of expense S10 Other S11 S12 S13 Net gains/(losses) on investments S14 S15 Extraordinary items S16 S17 S18 Other gains/(losses) S19 S20 Reconciliation of funds: S21 S22 1 Total Net movement in funds Total funds brought forward Total funds carried forward Total Net income/(expenditure) before investment gains/(losses) Net income/(expenditure) Transfers between funds Other recognised gains/(losses): Gains and losses on revaluation of fixed assets for the charity’s own use |
Unrestricted funds Restricted income funds Endowment funds Total funds Prior year funds £ £ £ £ £ F01 F02 F03 F04 F05 |
Unrestricted funds Restricted income funds Endowment funds Total funds Prior year funds £ £ £ £ £ F01 F02 F03 F04 F05 |
Unrestricted funds Restricted income funds Endowment funds Total funds Prior year funds £ £ £ £ £ F01 F02 F03 F04 F05 |
Unrestricted funds Restricted income funds Endowment funds Total funds Prior year funds £ £ £ £ £ F01 F02 F03 F04 F05 |
Unrestricted funds Restricted income funds Endowment funds Total funds Prior year funds £ £ £ £ £ F01 F02 F03 F04 F05 |
|---|---|---|---|---|---|
| 16,055 | - | - | 16,055 | - | |
| - | - | - | - | - | |
| - | - | - | - | - | |
| - | - | - | - | ||
| - | - | - | - | - | |
| - | - | - | - | - | |
| 16,055 | - | - | 16,055 | - | |
| - | - | - | - | - | |
| 17,055 | - | - | 17,055 | - | |
| - | - | - | - | - | |
| - | - | - | - | - | |
| 17,055 | - | - | 17,055 | - | |
| 1,000 - |
- | - | 1,000 - |
- | |
| - | - | - | - | - | |
| 1,000 - |
- | - | 1,000 - |
- | |
| - | - | - | - | - | |
| - | - | - | - | - | |
| - | - | - | - | - | |
| - | - | - | - | - | |
| 1,000 - |
- | - | 1,000 - |
- | |
| 150,000 | - | - | 150,000 | 150,000 | |
| 149,000 | - | - | 149,000 | 150,000 | |
Section B Balance sheet
| Fixed assets Intangible assets (Note 15) Tangible assets (Note 14) Heritage assets (Note 16) Investments (Note 17) Total fixed assets Current assets Stocks (Note 18) Debtors (Note 19) Investments (Note 17.4) Cash at bank and in hand (Note 24) Total current assets Creditors: amounts falling due within one year (Note 20) Net current assets/(liabilities) Total assets less current liabilities Creditors: amounts falling due after one year (Note 20) Provisions for liabilities Total net assets or liabilities Funds of the Charity Endowment funds (Note 27) Restricted income funds (Note 27) Unrestricted funds Revaluation reserve Total funds Signed by one or two trustees on behalf of all the trustees |
Guidance Notes B01 B02 B03 B04 B05 B06 B07 B08 B09 B10 B11 B12 B13 B14 B15 B16 B17 B18 B19 B20 B21 |
Unrestricted funds £ F01 |
Restricted income funds £ F02 |
Endowment funds Total this year £ £ F03 F04 |
Endowment funds Total this year £ £ F03 F04 |
Total last year £ F05 |
|---|---|---|---|---|---|---|
| - | - | - | - | - | ||
| - | - | - | - | - | ||
| - | - | - | - | - | ||
| - | - | - | - | - | ||
| - | - | - | - | - | ||
| 150,000 | - | - | 150,000 | 150,000 | ||
| - | - | - | - | - | ||
| - | - | - | - | - | ||
| - | - | - | - | - | ||
| 150,000 | - | - | 150,000 | 150,000 | ||
| 1,000 | - | - | 1,000 | - | ||
| 149,000 | - | - | 149,000 | 150,000 | ||
| 149,000 | - | - | 149,000 | 150,000 | ||
| - | - | - | - | - | ||
| - | - | - | - | - | ||
| 149,000 | - | - | 149,000 | 150,000 | ||
| - | - | - | ||||
| - | - | - | ||||
| 149,000 | - | 149,000 | 150,000 | |||
| - | ||||||
| 149,000 | - | - | 149,000 | 150,000 | ||
| Signature | Print Name | Date of approval dd/mm/yyyy |
||||
| Catherine Linneman | 18/06/2024 | |||||
| LadyCharlotte Northbrook |
CC17a (Excel)
18/06/2024
2
Section C Notes to the accounts
Note 1 Basis of preparation
This section should be completed by all charities .
1.1 Basis of accounting
These accounts have been prepared under the historical cost convention with items recognised at cost or transaction value unless otherwise stated in the relevant note(s) to these accounts.
The accounts have been prepared in accordance with:
-
the Statement of Recommended Practice: Accounting and Reporting by Charities
-
• and with* ✓ preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) issued on 16 July 2014 the Financial Reporting Standard applicable in the United Kingdom and Republic of
-
• and with* Ireland (FRS 102)
-
and with the Charities Act 2011.
CC17a (Excel)
18/06/2024
3
Section C Notes to the accounts (cont)
Note 3 Analysis of income
| Note 3 Analysis of income | Analysis of income | Analysis of income | Analysis of income | Analysis of income | Analysis of income | Analysis of income |
|---|---|---|---|---|---|---|
| Unrestricted funds Restricted income funds Endowment funds Total funds Prior year £ £ Donations and gifts 16,055- -16,055- Gift Aid - - - - - Legacies - - - - - General grants provided by government/other charities - - - - - Membership subscriptions and sponsorships which are in substance donations - - - - Donatedgoods,facilities and services - - - - - Other - - - - Total 16,055 - - 16,055 - - - - - - - - - - - - - - - - Other - - - - - Total - - - - - - - - - - - - - - - - - - - - Other - - - - - Total - - - - - Interest income - - - - - Dividend income - - - - - Rental and leasing income - - - - - Other - - - - - Total - - - - - - - - - - - - - - - - - - - - - - - - - Total - - - - - Conversion of endowment funds into income - - - - - Gain on disposal of a tangible fixed asset held forcharity's ownuse - - - - - Gain on disposal of a programme related investment - - - - - Royalties from the exploitation of intellectual propertyrights - - - - - Other - - - - - Total - - - - - 16,055- -16,055- Other information: Analysis Donations and legacies: Charitable activities: TOTAL INCOME Other: Other trading activities: Income from investments: Separate material item of income: |
Unrestricted funds Restricted income funds Endowment funds Total funds Prior year £ £ Analysis |
|||||
| Donations and gifts | 16,055 | - | - | 16,055 | - | |
| Gift Aid | - | - | - | - | - | |
| Legacies | - | - | - | - | - | |
| General grants provided by government/other charities |
- | - | - | - | - | |
| Membership subscriptions and sponsorships which are in substance donations |
- | - | - | - | ||
| Donatedgoods,facilities and services | - | - | - | - | - | |
| Other | - | - | - | - | ||
| Total | 16,055 | - | - | 16,055 | - | |
| - | - | - | - | - | ||
| - | - | - | - | - | ||
| - | - | - | - | - | ||
| Other | - | - | - | - | - | |
| Total | - | - | - | - | - | |
| - | - | - | - | - | ||
| - | - | - | - | - | ||
| - | - | - | - | - | ||
| Other | - | - | - | - | - | |
| Total | - | - | - | - | - | |
| Interest income | - | - | - | - | - | |
| Dividend income | - | - | - | - | - | |
| Rental and leasing income | - | - | - | - | - | |
| Other | - | - | - | - | - | |
| Total | - | - | - | - | - | |
| - | - | - | - | - | ||
| - | - | - | - | - | ||
| - | - | - | - | - | ||
| - | - | - | - | - | ||
| Total | - | - | - | - | - | |
| Conversion of endowment funds into income | - | - | - | - | - | |
| Gain on disposal of a tangible fixed asset held forcharity's ownuse |
- |
- | - | - | - | |
| Gain on disposal of a programme related investment |
- | - | - | - | - | |
| Royalties from the exploitation of intellectual propertyrights |
- | - | - | - | - | |
| Other | - | - | - | - | - | |
| Total | - | - | - | - | - | |
| 16,055 | - | - | 16,055 | - | ||
| All income in the prior year was unrestricted except for: (please provide description and amounts) |
||||||
| Where any endowment fund is converted into income in the reporting period, please give the reason for the conversion. Where any endowment fund is converted into income in the prior period, please give the reason for the conversion. |
||||||
| Within the income items above the following items are material: (please disclose the nature, amount and any prior year amounts) |
CC17a (Excel)
18/06/2024
4
Section C Notes to the accounts (cont)
Note 6 Analysis of expenditure
| Analysis Expenditure on raising funds: |
Unrestricted funds Restricted income funds Endowment funds Total funds Unrestricted funds Restricted income funds Endowment funds Total funds £ £ This year Last year |
Unrestricted funds Restricted income funds Endowment funds Total funds Unrestricted funds Restricted income funds Endowment funds Total funds £ £ This year Last year |
Unrestricted funds Restricted income funds Endowment funds Total funds Unrestricted funds Restricted income funds Endowment funds Total funds £ £ This year Last year |
Unrestricted funds Restricted income funds Endowment funds Total funds Unrestricted funds Restricted income funds Endowment funds Total funds £ £ This year Last year |
Unrestricted funds Restricted income funds Endowment funds Total funds Unrestricted funds Restricted income funds Endowment funds Total funds £ £ This year Last year |
Unrestricted funds Restricted income funds Endowment funds Total funds Unrestricted funds Restricted income funds Endowment funds Total funds £ £ This year Last year |
Unrestricted funds Restricted income funds Endowment funds Total funds Unrestricted funds Restricted income funds Endowment funds Total funds £ £ This year Last year |
Unrestricted funds Restricted income funds Endowment funds Total funds Unrestricted funds Restricted income funds Endowment funds Total funds £ £ This year Last year |
|---|---|---|---|---|---|---|---|---|
| Incurred seeking donations | - | - | - | - | - | - | - | - |
| Incurred seeking legacies | - | - | - | - | - | - | - | - |
| Incurred seeking grants | - | - | - | - | - | |||
| Operating membership schemes and social lotteries |
- | - | - | - | - | |||
| Staging fundraising events | - | - | - | - | - | |||
| Fudraising agents | - | - | - | - | - | |||
| Operating charity shops | - | - | - | - | - | |||
| Operating a trading company undertaking non-charitable trading activity |
- | - | - | - | - | |||
| Advertising, marketing, direct mail and publicity |
- | - | - | - | - | - | - | - |
| Start up costs incurred in generating new source of future income |
- | - | - | - | - | - | - | - |
| Database development costs | - | - | - | - | - | - | - | - |
| Other trading activities | - | - | - | - | - | |||
| Investment management costs: | - | - | - | - | - | |||
| Portfolio management costs | - | - | - | - | - | - | - | - |
| Cost of obtaining investment advice | - | - | - | - | - | - | - | - |
| Investment administration costs | - | - | - | - | - | - | - | - |
| Intellectual property licencing costs | - | - | - | - | - | - | - | - |
| Rent collection, property repairs and maintenance charges |
- | - | - | - | - | - | - | - |
| - | - | - | - | - | - | - | - | |
| Total expenditure on raising funds | - | - | - | - | - | - | - | - |
| Expenditure on charitable activities: | ||||||||
| Donations | 17,055 | - | - | 17,055 | - | - | - | - |
| - | - | - | - | - | - | - | - | |
| - | - | - | - | - | - | - | - | |
| - | - | - | - | - | - | - | - | |
| Total expenditure on charitable activities |
17,055 | - | - | 17,055 | - | - | - | - |
| Separate material item of expense | ||||||||
| - | - | - | - | - | - | - | - | |
| - | - | - | - | - | - | - | - | |
| - | - | - | - | - | - | - | - | |
| Total | - | - | - | - | - | - | - | - |
| Other | ||||||||
| - | - | - | - | - | - | - | - | |
| - | - | - | - | - | - | - | - | |
| - | - | - | - | - | - | - | - | |
| - | - | - | - | - | - | - | - | |
| TOTAL EXPENDITURE Total other expenditure |
- | - | - | - | - | - | - | - |
| 17,055 | - | - | 17,055 | - | - | - | - |
Other information:
Analysis of expenditure on charitable activities
CC17a (Excel)
18/06/2024
5
| Thisyear | Thisyear | Thisyear | Thisyear | Lastyear | Lastyear | Lastyear | Lastyear | |
|---|---|---|---|---|---|---|---|---|
| Activity or programme | Activities undertaken directly |
Grant funding of activities |
Support Costs |
Total this year |
Activities undertaken directly |
Grant funding of activities |
Support Costs |
Total last year |
| £ | £ | £ | £ | £ | £ | £ | £ | |
| Centrepoint Artwork Donation | - | - | 16,055 | 16,055 | - | - | - | - |
| Animals Asia Donation | - | - | 1,000 | 1,000 | - | - | - | - |
| - | - | - | - | - | - | - | - | |
| Total | - | - | 17,055 | 17,055 | - | - | - | - |
CC17a (Excel)
18/06/2024
6
Section C Notes to the accounts (cont)
Note 18 Stocks
Please complete this note if the charity holds any stock items
18.1 Please state the carrying amount of stock and work in progress analysed between activities.
| activities. | |||||
|---|---|---|---|---|---|
| For distribution For resale For distribution For resale £ £ £ £ £ Charitable activities: Opening - - - - - Added in period - - - - - Expensed in period - - - - - Impaired - - - - - Closing - - - - - Other trading activities: Opening - - - - - Added in period - - - - - Expensed in period - - - - - Impaired - - - - - Closing - - - - - Other: Opening - 150,000 - - - Added in period - 16,055 - - - Expensed in period - - 16,055 - - - Impaired - - - - - Closing - 150,000 - - - Total this year - 150,000 - - - Total previous year - 150,000 - - - Work in progress 18.2 Please specify the carrying amount of any stocks pledged as security for liabilities Stock Donated goods This year Last year £ £ |
Stock | Donated goods | Work in progress |
||
| For distribution |
For resale | For distribution |
For resale | ||
| £ | £ | £ | £ | £ | |
| - | - | - | - | - | |
| - | - | - | - | - | |
| - | - | - | - | - | |
| - | - | - | - | - | |
| - | - | - | - | - | |
| - | - | - | - | - | |
| - | - | - | - | - | |
| - | - | - | - | - | |
| - | - | - | - | - | |
| - | - | - | - | - | |
| - | 150,000 | - | - | - | |
| - | 16,055 | - | - | - | |
| - | - 16,055 | - | - | - | |
| - | - | - | - | - | |
| - | 150,000 | - | - | - | |
| - | 150,000 | - | - | - | |
| - | 150,000 | - | - | - | |
| This year | Last year | ||||
| £ | £ | ||||
CC17a (Excel)
18/06/2024
7
Section C Notes to the accounts (cont)
Note 20 Creditors and accruals
Please complete this note if the charity has any creditors or accruals.
20.1 Analysis of creditors
| Accruals for grants payable Bank loans and overdrafts Trade creditors Payments received on account for contracts or performance-related grants Accruals and deferred income Taxation and social security Other creditors Total |
Amounts falling due within oneyear |
Amounts falling due within oneyear |
Amounts falling due after more than oneyear |
Amounts falling due after more than oneyear |
|---|---|---|---|---|
| This year £ |
Last year £ |
This year £ |
Last year £ |
|
| - | - | - | - | |
| - | - | - | - | |
| - | - | - | - | |
| - | - | - | - | |
| - | - | - | - | |
| - | - | - | - | |
| 1,000 | - | - | - | |
| 1,000 | - | - | - |
20.2 Deferred income
Please complete this note if the charity has deferred income.
| Please explain the reasons why income is deferred. Movement in deferred income account Balance at the start of the reporting period Amounts added in current period Amounts released to income from previous periods Balance at the end of the reporting period |
Thisyear | Lastyear | Lastyear |
|---|---|---|---|
| This year £ |
Last year £ |
||
| - | - | ||
| - | - | ||
| - | - | ||
| - | - |
CC17a (Excel)
18/06/2024
8